Dow +0.08% S&P +0.10% Nasdaq +0.28% Russell +0.96%
US MArket closed higher. Mkt opened lower disappointed by durable good orders but some comments from Trumpe ahead of congress meeting today pushed mkt higher. Bulls turned their attention to aerospace & defense names after Mr. Trump proposed a $54 billion boost to defense spending, making good on his promise from last Friday to implement one of the "greatest military buildups in American history." Additionally, the president's comments helped send shares of Caterpillar (CAT 97.44, +1.96) higher after the promise to touch on his infrastructure plan during his first address to Congress, which will take place tomorrow evening. Energy finished top of the leader board with Cruce higher by 0.1% at $54.04/bbl. Financials (+0.5%), health care (+0.4%), and real estate (+0.5%) also outperformed with health care receiving a boost from the biotechnology industry, IBB +2.9%. On the flip side, telecom services finished Monday at the bottom of the leaderboard after AT&T (T 41.82, -0.54) announced that it will be lowering the price of its unlimited data plan, pointing to increased competition within the wireless space. US After Hours NTRI +18.5%, ALB +3%, EOG +2% following earnings/guidance, SBY +17% on M&A news... THC -14% following earnings/guidance, FRGI -13.3% on earnings/sale evaluation suspension. Asian indices traded mixed after consecutive down days, with funds flowing out of Treasuries and seeking riskier assets. Nikkei is outperforming as USD/JPY broke a string of 3 straight down days with a rally. Reversals in Treasuries and the greenback are construed as technically driven, with all eyes on President Trump's first speech to a joint session of Congress on Tuesday night and hopes of more concrete outline of promised tax cuts and infrastructure spending initiatives. Japan industrial output surprised with its first sequential decline in 6 months. China's Vice Premier Yang took a more conciliatory tone ahead of Trump's address tomorrow, calling for Beijing to maintain non-confrontational principle with the US despite the recent press reports of both sides boosting their military spending.
Nikkei +0.06% Hang Seng -0.62% CSI +0.14% Shanghai +0.33%
Eur$ 1.0595 CNH 6.8568 CNY 6.8681 JPY 112.38 GBP 1.2424 CHF 1.0071 RUB 57.94 WTI$ 54.06
S&P -0.08% EuroStoxx +0.15% Dax +0.05% FTSE +0.09% SMI +0.14%
Macro :
- Euro Stoxx 50 ETF Call Volume Surges to Record on Block Trades
- David Tepper Says ‘Still Long Stocks, ’Still Short Bonds’: CNBC
- S&P 500 Upside Calls Show Bullish View Into March Expiration
- HSBC Recommends Emerging Markets vs Europe on Policy Uncertainty
- Greece Said to Expect Revised Bailout Proposal for Tuesday Talks
Keep an eye on :
- A2A IM : A2A Exceeds Ebitda Guidance, Focus Now on Plan: Kepler Cheuvreux
- AALB NA : Aalberts Forecasts Further Sustainable Profitable Growth
- ABG SM : Abengoa Begins Sale Process for Atlantica Yield: Expansion
- AKE FP : Arkema Confirms 2017 Ebitda Target as 2016 Net Beats Estimates
- CS FP : Axa Denies Lettre De L’Expansion’s Report on Online Bank Review
- BWO NO : BW Offshore 4Q Ebitda Stable; Net Loss Narrows
- DAI GY : Daimler Appoints Martin Daum to Head Trucks, Buses Units
- DLG GY : Dialog Semiconductor watching for bolt-ons
- EDPR PL : EDP Renovaveis 2016 Net Income Falls 66% Y/y to EU56m
- EDP PL : EDP Renovaveis Sells Stake in Wind Assets to China Three Gorges
- ZIL2 GY : ElringKlinger 4Q Revenue Rises, Swiss Business Improves
- ERF FP : Eurofins Adj. Net Misses Forecast, Dividend Below Estimates
- EURCAR FP : Europcar to Pay Dividend for 2016 of 50% of Net Income
- FER SM : Ferrovial 2016 Net EU376.2m, Misses EU406.5m Analyst Consensus
- FER SM : Ferrovial Proposes EU0.74/Shr Scrip Dividend
- HOT GY : Hochtief 4Q Profit Rises, Sees 2017 Sales Growth
- ISP IM : Intesa Not Seeking to Syndicate EU5.2b Glencore-Qatar Debt, Intesa Wants to Buy a Large Bank in Russia: Local Unit Chairman
- NOVN VX : Novartis Has 13 Potential Blockbusters in Pipeline: CEO in BaZ
- PRS SM : Prisa 2016 Net Loss EU67.9m; Operating Revenues Slip 1.2%
- SAF FP : Safran to Buy Back Up To EU200m of Its Shares by June 14
- SAZ GY : Salzgitter Sees 2017 Pretax Profit Rising to EU100m-EU150m
- SDRL NO : Seadrill Ebitda Beats; Challenging Reaching Deal Before Deadline
- SO IM : Sogefi 4Q Rev. +5.4%; Sees Mid-Single Digit Rev. Growth in 2017
- HO FP : Thales May Seek Acquisitions in Four Core Areas, CEO Caine Says, Thales FY Ebit Jumps 11%; Co. Sees Profit Rising Again in 2017
- FR FP : Valeo Targets 2021 Sales Above EU27b, Op. Margin About 9%
- VCT FP : Vicat FY Net Climbs 18%; Co. Sees Results Improving in 2017